Install A Solar Hot Water System In Your Home For No Upfront Cost | US Virgin Islands Real Estate Blog

US Virgin Islands Real Estate Blog

Install A Solar Hot Water System In Your Home For No Upfront Cost

bevan smith, jrSolar Systems, LLC, a USVI manufacturer of solar water heaters, can now make their solar water heaters available for no upfront cost, thanks to a combination of efforts of President Obama’s stimulus plan and the Virgin Islands Energy Office (“VIEO”).

Solar Systems solar water heaters are made for use in tropical climates, such as that of the Virgin Islands, and are ideal for use in the VI. The systems come in a variety of sizes, depending upon the family size or business use, and can be either entirely located on the homeowner’s roof or partly on the roof and partly in an obscure shed or closet. When replacing a traditional electric water heater, Solar Systems’ units will reduce average residential electric costs 15%-30% per month.

Using Federal Stimulus funds, the VIEO is offering a 50% rebate on the cost of purchase and installation of solar water heaters, instantly cutting the homeowner’s costs in half.

Additionally, the VIEO has recently rolled out its Sun power Loan Program, whereby it will lend resident-homeowners and small businesses the other 50% of the cost of purchase and installation of a solar hot water heater.

Combining the ideal technology for island living with the VIEO  50% Rebate and the 50% Loan means that resident-homeowners and small businesses can get a solar water heater for no upfront cost.

The Sun Power Loan Program offers its 50% loans to resident-homeowners to be repaid with 1% interest over 5 years. The typical monthly loan payment will approximate $50—usually less than the typical monthly savings on a homeowner’s WAPA bill.

Solar Systems solar water heaters are available from Dealers throughout the Territory, and those Dealers can assist you with completing the rebate and loan applications. Consumers may download a Rebate Application and a Sunpower Loan Application.

For more information on authorized dealers, “greening” up your home, buying, selling or leasing in the USVI, please contact Jennie Rosenberg at 340.690.4903 or jennie@seaglassproperties.com.

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